Mr. Dean Taylor reports

DIAMCOR MINING ENGAGES INVESTOR CUBED (I3) FOR ADDITIONAL INVESTOR RELATIONS AND SHAREHOLDER COMMUNICATIONS

Diamcor Mining Ltd. has engaged Investor Cubed Inc. to provide additional investor relations and shareholder communications services in Canada for the company.

Diamcor is focused on increasing awareness within various investment communities on the company's various efforts, and the addition of Investor Cubed is aimed at furthering this objective. "Investor Cubed is an established company with 20 years experience, and we look forward to their team providing us with additional introductions and awareness within the Canadian adviser community, as well as institutional investors and dealers," said Dean Taylor, chief executive officer of Diamcor.

"Investor Cubed is excited to begin working with Diamcor, as we see the company as having significant potential for revenue growth and expansion of their project in the near-term, through the drilling and bulk sampling efforts over the greater areas recently announced," said Neil Simon, CEO of Investor Cubed. "We believe the current market metrics do not accurately reflect this growth potential, the existing assets, or how well positioned the company is at a key time in the rough diamond sector," added Mr. Simon, CEO.

The terms of the investor relations/consulting agreement with Investor Cubed will commence on June 15, for a one-year term (terminable at Diamcor's option after three months), and provide for cash compensation of $7,500 per month, payable by Diamcor to Investor Cubed for services rendered pursuant to the terms of the agreement. Subject to the approval of the Diamcor board of directors and applicable TSX Venture Exchange policies, Diamcor has also agreed to grant Investor Cubed options to purchase 300,000 shares to be priced at 15 cents. The options will vest in accordance with the TSX Venture Exchange vesting requirements as follows: 75,000 options may be exercised on Sept. 15, 2023, 75,000 on Dec. 15, 2023, 75,000 options on March 15, 2024, and the final 75,000 options on June 15, 2024. All options expire three years from the date of issue and are subject to the required hold periods pursuant to applicable securities laws and TSX Venture Exchange policies. Investor Cubed's engagement is subject to acceptance by the TSX Venture Exchange.

About Diamcor Mining Inc.

Diamcor Mining is a fully reporting publicly traded Canadian diamond mining company with a well-established history in the mining, exploration and sale of rough diamonds. The company's primary focus is on the development of its Krone-Endora at Venetia project, which is co-located and directly adjacent to De Beers's Venetia diamond mine in South Africa. The Venetia diamond mine is recognized as one of the world's top diamond-producing mines, and the deposits which occur on Krone-Endora have been identified as being the result of shift and subsequent erosion of an estimated 1,000 vertical metres of material from the higher grounds of Venetia to the lower surrounding areas in the direction of Krone and Endora. The company focuses on the acquisition and development of mid-tier projects with near-term production capabilities and growth potential, and uses unique approaches to mining that involves the use of advanced technology and techniques to extract diamonds in a safe, efficient and environmentally responsible manner. The company has a strong commitment to social responsibility, including supporting local communities and protecting the environment.

Qualified person

James P. Hawkins, BSc, PGeo, is manager of exploration and special projects for Diamcor Mining, and the qualified person in accordance with National Instrument 43-101, responsible for overseeing the execution of Diamcor's exploration programs and a member of the Association of Professional Engineers and Geoscientists of Alberta (APEGA). Mr. Hawkins has reviewed this press release and approved of its contents.

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